Rosneft and BP Form Global and Arctic Strategic Alliance. Rosneft and BP have agreed to explore and develop three license blocks - EPNZ 1,2,3 – on the Russian Arctic continental shelf. Following completion of this agreement, Rosneft will hold 5 per cent of BP’s ordinary voting shares in exchange for approximately 9.5 per cent of Rosneft’s shares.

Commission and Azerbaijan sign strategic gas deal. Azerbaijan commits to supplying substantial volumes of gas over the long term to the European Union, while Europe provides access to its market for them. This Joint Declaration is an important step in the realization of the Southern Gas Corridor and the diversification of Europe's energy supplies.

Gazprom inks gas purchase contracts with Uzbekistan. Following the meeting results, the parties signed gas purchase contracts for 2011?2012 and an Agreement for natural gas transmission via the Republic of Uzbekistan over the same period.

Alexey Miller and Marcel Kramer discuss progress of the South Stream project. The projected throughput capacity of the South Stream offshore section will reach a total of 63 billion cubic meters per year. The first line of the South Stream project is planned to become operational by late 2015.

Alexey Miller and Yury Boiko agree to set up two joint ventures between Gazprom and Naftogaz Ukrainy The parties agreed to set up two joint ventures: for coalbed gas production in Ukraine and for the Palasa structure development offshore the Black Sea.

Gazprom and Shell agree to pursue broader cooperation. Amongst the opportunities the companies will consider are: * Further development of bilateral cooperation in exploration and production of hydrocarbons in western Siberia and the far east of Russia; * Cooperation in the downstream oil products business in Russia and Europe, as well as Gazprom participation in Shell upstream projects outside of Russia.

BP and SOCAR Sign Shafag-Asiman PSA, in the Azerbaijan sector of the Caspian Sea. Under the PSA, which is for 30 years, BP Exploration (Azerbaijan) Limited will be the operator with 50 per cent interest while SOCAR will hold the remaining 50 per cent equity.

ExxonMobil Announces Odoptu Production Startup at Sakhalin-1 Project in Russia. Field to Produce up to 11 Million Barrels of Oil in 2011. The Sakhalin-1 project includes the phased development of the Chayvo, Odoptu and Arkutun-Dagi fields, with an estimated total resource of 2.3 billion barrels (307 million tons) of oil and 17 trillion cubic feet (485 billion cubic meters) of natural gas. The Chayvo field, which was the initial phase of the Sakhalin-1 project, began production in 2005.

Meeting of Joint Coordinating Committee between Gazprom and China National Petroleum Corporation. The J?? addressed the crucial issues of natural gas supply arrangement from Russia to China under the prioritized project stipulating deliveries via the western area of the Russian-Chinese border.